Business news from Ukraine

Ukrposhta’s investments in development will amount to UAH 1.3 bln – Smelyansky

29 February , 2024  

Ukrposhta JSC’s investments in development in 2024 will amount to about UAH 1.3 billion of its own funds, the company’s CEO Igor Smelyansky said at the Forbes Ukraine Business Breakfast on Wednesday.

According to him, the investments will be directed to the organization of container exchange with the transportation of goods by large-sized transport, due to the growth of parcel shipments. Investments in the creation of container exchange capabilities on the basis of one branch amount to UAH 100 thousand, Smelyansky said.

In addition, in 2024, Ukrposhta plans to buy a letter sorting machine. The machine will sort up to 50 thousand letters per hour using the QR code of an electronic stamp. The unit will be purchased with credit funds, the company’s CEO said.

“Ukrposhta plans to open another 300 post offices in Ukraine “to make the coverage as we want it to be.”

The branches will be opened in Kyiv, Odesa, and Dnipro, Smelyansky said.

According to him, Ukrposhta will open 18 new sorting facilities in the next four months, and a sorting center in Lviv will start operating in two weeks.

At the same time, Ukrposhta will not develop the oversized cargo business due to the high costs of further delivery of goods related to taxes.

Ukrposhta’s CEO emphasized that the company has not abandoned the idea of acquiring the bank. According to him, the effect of the transfer of PINbank to the company will amount to UAH 5 billion over three years.

“We will reduce budget expenditures on pension delivery by UAH 5 billion over three years,” Smelyansky said.

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